From Michgan State University: There is speculation that the many challenges left in the aftermath of Hurricane Katrina may include delays and other problems associated with moving grain to and from ports in New Orleans. Problems with the movement of grain out of the Midwest may result in a very weak price basis (difference between local cash grain price and futures price) at harvest.
The weak basis may persuade many growers to store or delay harvest of their 2005 corn and soybean crop. Further aggravating the situation and motivating growers to delay harvest is the projected jump in energy costs associated with Katrina.
Delaying harvest beyond optimum crop harvest moisture usually results in yield loss. The optimum grain harvest moisture to maximize crop yield is generally considered to be between 13 and 15 percent for soybean and approximately 25 percent for corn. Crop yield loss at harvest can be categorized as field loss (sometimes referred to as pre-harvest loss) and machine loss. Field loss is grain that never makes it into the combine including ear drop and seed shattering from the standing crop, and the grain left behind and not picked up by the combine header. Field loss is influenced by weather, relative maturity and other genetic traits. Field loss increases with time as harvest is delayed beyond the optimum harvest moisture. Machine loss, as the name implies, is grain lost by the combine and includes header losses and separation losses from combine cylinders, straw walkers and cleaning shoes. Machine loss also increases with time as harvest is delayed. Research conducted in Wisconsin showed that for every five- to six-day delay in soybean harvest an additional one bushel per acre of grain yield was lost. Table 1 shows the average corn grain yield lost across several Midwest states by delaying harvest. Actual harvest loss can be measured in the field. Finding two kernels of corn or four soybean grains per square foot is equivalent to a one bushel per acre loss in yield.
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There’s a very good storage calculator at this location which includes a downloadable Excel worksheet.